Remember that you get what you pay for. I had a very cheap VPS ($1.61 per month) for a few months until it went down. I got an email 2 days later saying that the hosting company was being kicked out of their data center because one of their clients had been the victim of a DDoS attack, and they were in the process of overnight shipping all of their servers across the country to a new data center. Luckily I was just hosting some non-critical personal projects, so I wasn't adversely affected. In the end they were down for 5 days, which under the circumstances is actually pretty impressive.

I've heard about those cheap VPS that simply disappear from existence.

Unless is something completely disposable, I'd rather pay 5$/month and go with something like Digital Ocean that I can be pretty sure will last for years.

Avoid LowEndBox.

Owned by ColoCrossing, and ColoCrossing providers get posted ASAP. They also lied about owning it for a year, until someone found out.